China supplied Russia with a record $40.9 million worth of watches in August

Supplies of watches from China to Russia in August compared to July almost doubled to a record $40.9 million, RIA Novosti reported on September 21, citing statistics from Chinese customs.

According to the agency, Russia imported watches and their parts from China in August 1.8 times more compared to July. From January through August this year, $116.5 million worth of watches and their parts were supplied from China to Russia, while for the whole of 2023, shipments reached only $40 million.

Russia increased imports of Chinese watches in April, and according to the results of that month, supplies increased fivefold and amounted to $11.5 million. After that, in May, supplies increased to $14 million, in June - to $18.9 million, in July the amount of purchases reached $22.3 million.

Earlier, on August 30, it became known that importers from China refuse to supply Russia with dual-use products until confirmation of payments (prepayment). We are talking about electronics, industrial equipment and other machinery, said in logistics companies and confirmed in business associations. The reason for this was the new package of August sanctions, which included 46 companies from China, and thorough checks of payments by Chinese financial organizations.